Post Utme Lead City University 2022 Accounting Question 39

Practice objective / multiple choice question 39 from the 2022 Post Utme Lead City University Accounting examination.

Post Utme Lead City University 2022 Accounting Objective / Multiple Choice
Question 39 POST_UTME_LEAD_CITY_UNIVERSITY • 2022 • ACCOUNTING • objective

A company uses the straight-line method to depreciate its assets. If the asset cost ₦120,000 and has a useful life of 5 years, what is the annual depreciation charge if the residual value is ₦20,000?

Answer Options

A. ₦20,000
Correct Answer B. ₦22,000
C. ₦24,000
D. ₦26,000
Correct Answer
B
Correct Option:
₦22,000

About This Question

This is Post Utme Lead City University 2022 Accounting Question 39. It is one of the objective questions from the 2022 Post Utme Lead City University Accounting examination.

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